Real Estate Letters | Allgood Pest Solutions
When buying or selling a home, the topic of a real estate letter often comes up. It may also be called a termite letter or termite bond. This is a letter of intent between a pest control company and the owner (both old and new) about the home in question, which outlines what initial services will be provided, what services will be provided if termites are ever found within the structure, and what termite damage warranty will be applied if any damage occurs. This is an agreement that is attached to the home, not the owner. Therefore, if occupancy changes, the coverage remains intact. In its broader scope, a termite letter is nothing more than a contract for termite insurance. In our Chattanooga service area, this is insurance no home should go without.
When subterranean termites attack a home, it can be devastating. These insects come up from the ground and eat channels into wood, weakening support beams, walls studs, and other vital areas. This can lead to structural warping, windows and doors that get stuck, walls that bulge, ceilings that sag, and floors that dip. And, since subterranean termites are a pest that feeds inside wood, they often leave little sign of their presence. Termites can feed for years without being detected. They have even been known to escape the watchful eye of a certified home inspector. That is why more and more lenders across the country are requiring that real estate agents or buyers acquire a termite letter from a certified pest control company.
While it is most often the responsibility of a buyer to get a termite letter, it is the responsibility of the seller to pay for treatment and damages if termites are found. This can cause some significant complication at the point of sale. If you’re selling your home, it is advantageous to beat the buyer to the punch. When you acquire a termite letter first, you can in some cases pass the cost of any treatment or damage found to the buyer by adding the costs to your asking price. Whereas if the buyer has the home inspected, you’ll be left holding the bill.
Getting a termite letter is also a helpful step in making your home ready for sale. While the buyer is focusing on getting a pre-approved loan amount, you can be making sure that everything is set on your end for a quick and convenient transfer of ownership.
At Allgood Pest Solutions, we offer one of the most comprehensive termite bonds available in the industry. Whether you’re buying, or selling, a home in Tennessee, let the team here at Allgood make things run smoothly. For more information, reach out to us today.
Real Estate Letters | Allgood Pest Solutions in Atlanta & Knoxville Metros and Surrounding Areas
Serving Clients in Atlanta GA and Knoxville TN